MOFCOM: China 2010 Retail Sales to Top RMB 15t
China's general consumer goods retail sales will grow more than 18% y-o-y to top RMB 15 trillion in 2010, Ministry of Commerce (MOFCOM) spokesperson Yao Jian said at a press conference on January 18. A survey of 3,000 major retailers showed y-o-y growth in sales of 18.1%, representing an acceleration of 10.6 percentage points from 2009, the report said.
MOFCOM approved the establishment of 27, 406 foreign-invested companies last year, bringing in $105.74 billion in overseas capital, up 17.4% on an annual basis. Chinese investment overseas rose 36.3% y-o-y to $59 billion, the report said.
By the end of 2010, sales under the country's old-for-new home appliances incentive program had reached RMB 121.1 billion, while the appliances-to-the-countryside program had generated sales of RMB 241.8 billion, according to the report.
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